Trump-Xi Meeting Sparks Major Agriculture Trade Deal Between US and China

China will buy at least $17 billion worth of US agricultural goods annually, the White House says.

China will make this purchase through 2028, with the 2026 target applying to the remaining year, according to the fact sheet released on Sunday.

The White House said the deal is in addition to China’s commitment to buy at least 87 million metric tonnes of US soya beans, which was made at Trump and Xi’s summit in South Korea in October.

China also reportedly agreed to reopen or expand access for U.S. beef and poultry imports and work on removing some trade barriers. It has restore market access for US beef by renewing the expired listings for more than 400 production facilities, and resume imports of poultry from states determined by US Department of Agriculture to be free of avian influenza, according to the fact sheet.

Trump and Xi also agreed to establish two new bodies – the US-China Board of Trade and the US-China Board of Investment – to manage trade and investment between the sides, the White House said.

China will confirm the US announcement within few days.

The White House’s announcement comes after Trump and Xi on Friday finished a two-day summit that included many agreements.

During their talks in Beijing, Trump and Xi sought greater alignment on economic issues and trade, while largely skirting the sensitive issues of Taiwan and the US-Israel war on Iran.

After Friday’s summit, the White House said the US and China discussed stronger economic cooperation, agreed on keeping the Strait of Hormuz open, and stated that Iran should never have nuclear weapons, though Beijing only stressed a balanced solution to the Iranian nuclear issue. Taiwan was notably absent from official statements despite Xi Jinping warning of possible “clashes and conflicts” if the matter is mishandled. Experts also questioned US claims that China would boost agricultural purchases, noting Beijing has yet to confirm the deal. While an extra $17 billion in annual farm imports could support US farmers, analysts say its impact on the wider US economy would be limited, as US-China trade has already dropped from over $690 billion in 2022 to about $415 billion last year.